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Olaplex reported a 2.3 percent increase in net sales in its second-quarter earnings on Thursday to $106 million with a 12.8 percent uplift in its direct-to-consumer sales to $38.5 million, though its speciality retail channel declined some 17 percent.
“We’re very proud of the progress that we’ve made so far, and we’re seeing some nice early green shoots,” said Amanda Baldwin, the company’s chief executive officer. While the company swung to a loss this quarter, Baldwin said efforts to reengage professionals with its core line of hair and colour care products were showing signs of success, and that newer launches such as a scalp-focussed line were also resonating with customers. Baldwin noted that Olaplex produces the majority of its products in the US, mitigating any potential tariff impact and negating the need for immediate price rises.
“Regenerating demand is necessary to continue to get the brand back to growth,” said Baldwin, adding that she felt the company was well underway to its goals already.
As part of its turnaround plan, Olaplex refreshed its branding, engaged further with stylists and hair professionals and refined its social listening and launch strategy.
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Once a sole contender — and category creator — in the bond-building space, an area of hair care focussing on repairing damage, Olaplex has become increasingly crowded by new competitors like K18 and similar offerings from established brands such as L’Oréal and Living Proof.
Learn more:
The Architect of Olaplex’s Turnaround
Chief executive Amanda Baldwin has been tasked with course-correcting the embattled haircare brand. Using her marketing muscle, she hopes to rebuild the bond Olaplex once shared with beauty consumers and investors alike.
